Your flash plugin is not detected.
Please click on this link to display the flash animation.



 



Big $ Savings With VoIP Telephone Systems

 


Law Firm Search Engine

 

 

for better
smarter
lawyers

 

 

 

 

 

Practice Intelligence Australia

30 January 2012 - Slater & Gordon to Acquire UK Law Firm with 425 Staff in 10 Offices

 

Details of the S&G acquisition here

 

23 January 2012 - Melbourne: Aitken Partners and DSC Lawyers Merge

Melbourne based law firms Aitken Partners and DSC Lawyers merge. Details

 

22 January 2012 - Further Signs of an Emerging National-Tier


[image]

2012 has begun with Slater & Gordon acquiring a Queensland family law firm; Middletons expanding into Queensland through a merger with Brisbane's Flower & Hart and an exodus of property lawyers from Macpherson + Kelley to HWL Ebsworth.

In June 2011 we commented: "The top-tier appears to be transforming into what could be called a 'multinational-tier' - pulled along by the activity of international firms establishing in Australia. ... Another tier of firms - mostly made up of the currently defined mid-tier - is becoming identified as an Australian-focused national tier."

In October 2011 we reported: "Consultant Stephen Moss, who was a key figure involved in bringing together Squire Sanders and Minter Ellison (Perth), recently made the point that the arrival of foreign law firms in Australia was part of a global trend in which law firms were internationalising."

In recent times, top tier firms internationalising include: Deacons / Norton Rose; DLA Phillips Fox / DLA Piper; Blake Dawson / Ashurst and Mallesons / King & Wood Mallesons.

The AFR partnership survey in mid 2011 showed that mid-tier firms were the main recipients of partners leaving the top-tier.

The phenomenon of an emerging national-tier appears to be continuing in 2012, evident from the Middletons expansion into Queensland.

The pulling power of the developing national-tier has been demonstrated by the exodus of property lawyers from fast growing Macpherson + Kelley to national firm HWL Ebsworth.

Slater & Gordon has continued the process of establishing itself as a national firm that targets the private (non-corporate) market.



11 January 2012 - Staff Turnover Rates in Law Firms

Legal Practice Intelligence attempts to answer the question: What is the target rate for staff turnover in "successful" Australian law firms? Read article

 

5 January 2012 - Introducing The New President of The Law Council of Australia


Catherine Gale
 President of The Law Council of Australia

Catherine Gale is the Director of Resolve Conflict, Lawyers and Mediators a boutique Melbourne Law Firm specialising in alternative dispute resolution in the Family Law environment. Read more



3 January 2012 - Standout Marketing for Estate Litigation Services

A potential client visiting the website www.estatedefence.com.au should have little doubt that this is a law firm worth contacting.

The name of the firm, Estate Defence Lawyers, provides a clear message as to what this law firm is all about. On its website, potential clients can read case notes, information about the Succession Act and much more.

Click image below to visit Estate Defence Lawyers


 

20 December 2011 - Better Blogging

Sydney law firm Makinson D'Apice provides an impressive example of "better blogging". Click images below to visit their new blogs.

 

 

 

16 December 2011 - King & Wood Mallesons to Commence 1 March 2012

Read the official announcement here




15 December 2011 - Electronic Conveyancing Board Sees Departure of Lawyer and Conveyancer Representatives

Representatives of the Law Council of Australia and the Australian Institute of Conveyancers have left the Board of NECDL. An advisory council is expected to be formed so that stakeholders not represented on the board are able to have formal input into the project.

Three new directors have been appointed – two independent directors and one nominee of the four bank shareholders.

There are two directors also representing the four state government shareholders (Victoria, NSW, Qld and WA).

Five months of design work for the new e-conveyancing system is planned to be completed by February / March 2012. This will also confirm the cost of building the platform.

The Accenture / NECDL project team is now comprised of around 30 people, who are located in Melbourne.

ARNECC is the regulator of the electronic conveyancing system. Who is ARNECC? ARNECC membership comprises the Land Titles Registrars from each Australian state and territory or their nominee.

The Australian Registrars' National E-Conveyancing Council (ARNECC) is the body established to facilitate the implementation and ongoing management of the regulatory framework for National E-Conveyancing.

View the NECL Webcast which provides more details about the above developments



10 December 2011 - BigLaw: The Current Bust After Last Year's Boom

Statistics published by BRW show unequivocally that the 2010/11 financial year was a boom year for BigLaw legal services in Australia. Revenue of the top 30 firms was $5.4 billion which was up 7% from the previous financial year.

The top three fastest growing firms in the BRW list (revenue growth %) were Macpherson + Kelley (52.7%), Slater & Gordon (45.74%) and Hall & Wilcox (18.74%).

The Australian reported (9/12/11) "THE employment boom for lawyers is fading after leading firms slashed 175 jobs in the past six months, reversing much of the recovery in legal employment.

"After growing at 6 per cent in the first half, legal employment at the leading law firms declined by 1.9 per cent in the past six months.

"This removed almost a third of the 551 extra jobs that had been created by the leading firms in the first half of the year."

With the exception of a few practice areas such as mining and resources and receiverships, these statistics give a clear indication that BigLaw legal services are currently experiencing a general contraction in demand.

 

6 December 2011 - M + K Lawyers Merge with Lane & Lane, Sydney

Anthony Roberts has joined national law firm M+K Lawyers as a Principal in the Property services group in the Sydney office following the merger of his firm with M+K.

Sydney based Lane & Lane Lawyers was founded in 1898 and the merger of Lane & Lane's city office and M+K, brings a team of six. This extends the established reputation that M+K has in the areas of commercial and property law.

Joining Anthony is Bruce Yahl and James Linton, 1 Paralegal and two Legal Secretaries. Bruce joins to the commercial team as Special Counsel and James has been appointed Special Counsel in the property services group.

Anthony Roberts said "By merging with M+K we are able to deliver to our existing clients in a much broader range of legal services while maintaining the close relationships that our clients value." He added that his existing clients would also benefit from the national reach of M+K.

"Anthony and his team are a welcome edition to the M+K New South Wales team which has grown substantially over the past 18 months. This merger takes M+K to 55 Principals and over 135 Lawyers nationally", said Damian Paul, National Managing Director.

M+K Lawyers is a commercial law firm with over 350 employees, making it one of the largest law firms in Australia devoted to the needs of businesses and asset owners in the middle market. M+K has offices in Victoria, New South Wales, Tasmania and Queensland. M+K is a member of Multilaw, a global association of over 70 law firms worldwide providing clients access to Lawyers in the UK, Europe, Asia, USA and the sub-continent.



5 December 2011 - Coleman Greig Acquires Established Property Law Practice

One of Parramatta, Sydney's large firms acquires a smaller nearby property practice. From the official announcement:

The Principals of Coleman Greig Lawyers are pleased to advise that, effective 9 January 2012, we will acquire the Parramatta-based legal firm Robilliard & Robilliard.

Robilliard & Robilliard is a small, well-established practice with a solid client base and a strong property law focus. As part of the acquisition we will be employing all three of Robilliard & Robilliard’s current lawyers, plus the majority of the firm’s support staff, and we are looking forward to offering all clients the combined expertise and experience of our two firms.

The two owners and Principals of Robilliard & Robilliard, Rick Chadwick and Owen Nicol, will become members of our Property team – adding further depth to an already experienced group and building on our reputation for excellence in this field. George Angelinas is an experienced litigation lawyer with Robilliard & Robilliard and will become an integral member of our Litigation and Dispute Resolution team from 2012.

Through the acquisition of this practice, Coleman Greig will expand our expertise in property law and litigation and further enhance our position as western Sydney’s leading law firm.

 

23 November 2011 - South Australia Conveyancing Volumes Fall to Record Lows

October 2011 property transfers in South Australia fell below 3,250 transfers which is more than 10% lower than the same month in 2010. To put it in even sharper perspective, transfer volumes in October 2008 and October 2009 were more than 4,000.

Compared to those years, the volume of recent property sales is down by 20%-30%. The recent change in sentiment about the future direction of interest rates could result in October 2011 being the low point for transfer volumes in the current cycle.

 

 

17 November 2011 - Slater & Gordon to Acquire Conveyancing Works

From the official announcement:

•Key element in S&G’s strategy to grow outside the personal injury legal market.
•Will underpin growth strategy for domestic conveyancing practice in Queensland with expansion in to New South Wales, Victoria and eventually nationally.
 
Slater & Gordon Limited (ASX: SGH) announced today that it had agreed to acquire the Queensland conveyancing specialist firm Conveyancing Works for a consideration of approximately $5 million.
 
The acquisition of Conveyancing Works, which has forecast full year revenue of approximately $8.0 million, will be a major step forward in Slater & Gordon’s strategy of developing its non personalinjury legal practices.
 
Conveyancing Works currently has an estimated 14% market share of the domestic conveyancing services market in Queensland based on the number of transactions completed in 2011 and is the largest specialist firm operating in this area in Australia.
 
Slater & Gordon Managing Director, Andrew Grech said the company would use the acquisition as a base from which to develop a significant share of the domestic conveyancing market in Queensland, Victoria and New South Wales over the next few years and eventually nationally.
 
“This announcement delivers on our commitment to more actively pursue a strategy of growth in the non-personal injury consumer legal services sector.
 
“It also forms part of our longer-term strategy of expanding the range of legal services that we offer everyday Australians,” Mr Grech said.
 
Conveyancing Works developed its business model and practice management system to enable it to complete high volumes of transactions for clients efficiently. It is based in Brisbane and has nine offices in Queensland (at Cairns, Caloundra, Hervey Bay, Mackay, Maroochydore, Palm Beach, Rockhampton, Southport and Townsville), and more than 50 staff members, all of whom will be retained.
 
Conveyancing Works Executive Chairman, Don Horsfall, said: “This is an amazing opportunity for our business, which started in 2000 with just two staff.”
 
“We have grown our law firm based on a strong commitment to delivering efficient conveyancing services and supporting Queenslanders in their home acquisition goals”, Mr Horsfall said.
 
“Taking this business model beyond Queensland has been something that we have dreamed of, but we have lacked the necessary national infrastructure and competencies to realise this strategy.
 
“This acquisition by Slater & Gordon will enable us to expand nationally without compromising on our commitment to high service standards. As the principals from Conveyancing Works will beremaining with the business we will have the ability to support and assist in developing and expanding Slater & Gordon’s conveyancing service offering.”
 
It is expected that the transaction will be completed on or about 25 November 2011. The transaction has been the subject of an extensive due diligence process, which has been substantially completed over the last twelve months.
 
The Consideration includes shares being issued to the Vendors as well as deferred consideration (of $1.5 million) payable within 14 months of completion, conditional on certain post completion events and targets being achieved. The share component is subject to escrow periods totaling three years.

 

 

15 November 2011 - Warning: City Lawyers Might Find These Advertisements Offensive

Innovative advertisements for NSW North Coast law firm Bourke Love Lawyers

 

 

 

 

 

14 November 2011 - Legal Sector Job Advertisements Growth Slowing at Half the Rate of the Overall Economy

Earlier this month, the ANZ bank commented on its own statistical analysis of the jobs market: "Trends in job advertising are again beginning to reflect the emergence of a more noticeable geographic split to Australian economic growth. The trend in job advertising remains positive for Western Australia, the Northern Territory and Queensland (the states with the greatest exposure to mining). At the same time, advertising is continuing to slow in the more populous states of NSW and Victoria.”

As implied in the ANZ statement, the number of job advertisements and employment prospects generally are also diverging according to industry sector. Based on our own statistical analysis, Legal Practice Intelligence estimates that the slow-down in legal sector job advertisements are only at about half the rate compared to the overall economy.

The ANZ series also stated: "In trend terms, internet job advertisements fell 0.5% m/m, recording the seventh consecutive monthly decline. Annual trend growth has now slowed to 2.4% and is sitting well below its long-term average."

According to Legal Practice Intelligence sources, the major impact of the jobs weakness in the legal sector at the moment is being experienced as a reduction in the quality of jobs available rather than the quantity.

 

 

7 November 2011 - WillPoint Brings Wills to Life

Willpoint provides real benefits for law firms including:

•Daily notifications of intention to seek grant of probate or letters of administration for individuals that match wills in your firm's database. This represents the first known automated solution to the Hawkins v Clayton liability law firms may incur as will custodians.  (For more information from a professional insurer on what this duty comprises, please see this Risk Alert to law firms).
•Notification to firms of death notices that may relate to wills held in your safe custody.
•A secure, live, custodial database of wills showing historical entries as well as current safe custody holdings.
•A streamlined connection with authorised executors searching for a deceased client’s will.

Background to the establishment of WillPoint

 



4 November 2011 - Conveyancing Volumes - NSW Avoids Volatility of Other States

The above graph presents a picture of relative stability for property sales volumes in NSW. This contrasts with the volatility experienced in some of the other states over the same period. The most volatile calendar year in the graph was 2009 and even within that year there were both up and down movements.

Property sales for the four months to October 2011 were 3.36% below the equivalent period in 2010. Legal Practice Intelligence hears informally that there is a surge in property sales volumes currently occurring in NSW.



 

2 November 2011 - New Family Law Website Creates Opportunities for Law Firms


When potential family law clients arrive at www.lovelaw.com.au they arrive at a resource which will help them compile information for their matter and will help them connect with a lawyer to advise and represent them.

The website is operated by Love Law Online Pty Ltd which itself is not a law firm and does not provide legal advice. All new client enquires submitted through the site are sent to law firms that are described as 'partners' of the service.

The company is seeking law firms with expertise in family law to become partners. Law firm partners receive new client enquiry opportunities and benefit from a streamlined client intake process.

Love Law Online Pty Ltd was founded by Queensland lawyer Ben Hall. The team of people behind the service have experience in legal practice, technology and business.

Potential family law clients have the option of purchasing a document for $50.00 which contains questions, and when completed, becomes a key source of information for the lawyer who will be engaged. This streamlines client intake and the initial stages of a matter, potentially saving the lawyer time and the client money.

Alternatively, potential clients can refer their family law brief to all registered law firms for free, with only the first family lawyer to respond gaining access to the contents of the brief.

Law firm partners pay a fee when they choose to accept a lead. The potential client is not bombarded by numerous firms and there is no bidding process. The client is contacted by one law firm only.

Law firms can find out more about this opportunity here

 

 

27 October 2011 - Mallesons Signs Outsourcing Agreement with Integreon

From Mallesons' official statement:

Mallesons gains competitive advantage in the Australian legal market by teaming with a trusted provider of high-quality legal process outsourcing services

NEW YORK / SYDNEY – October 27, 2011 – Mallesons Stephen Jaques, a leading law firm in the Asian region, and Integreon, the largest global provider of integrated legal, business and research solutions, today announced their preferred supplier agreement for legal process outsourcing (LPO) support services.

“This Australian first signals a watershed in the way legal services in corporate Australia are provided,” says Tony O’Malley, Managing Partner, Mallesons. “We are making efficiency our business, whilst responding to cost pressures in the highly competitive legal market. This agreement will deliver the sourcing alternatives and efficiency that our clients are demanding, and enable us to maintain the oversight and control necessary to deliver the level of legal advice for which we are known. LPO is already common practice elsewhere in the world, and it’s time that our clients have access to, and benefit from this innovative business practice.”

Bob Gogel, CEO of Integreon said: “Mallesons is leading the charge for bold innovation in legal services delivery in Australia. By fully evaluating and understanding the evolving needs of their clients and embracing the business-model transformation necessary to meet those needs, Mallesons continues to exhibit the bold thinking that is a hallmark of leading global law firms.”

Through a rigorous due diligence process, Mallesons chose Integreon for its proven quality, consistency, transparency and reliability. Of the legal process outsourcing providers evaluated by Mallesons, Integreon exhibited the greatest ability to scale globally to meet clients’ constantly evolving needs. The Integreon team will consist of experienced staff members, including forensic experts and individuals with advanced law and business degrees, supported by teams of lawyers, as case needs dictate.

 

 

27 October 2011 - Staff Turnover Rates at Australian Law Firms

 


LAW FIRM STAFF-TURNOVER RATES SURVEY

Legal Practice Intelligence has recently noticed some surprising staff turnover rates at Australian law firms. We kindly request your (anonymous) input into this issue so that we can together establish benchmarks. 

As an example, a staff turnover rate of 10% means that 10% of a firm's staff will leave the firm over a 12 month period.

For the purpose of this survey, please assume that staff means all lawyers, partners, support and management staff, i.e. everyone in the firm.

Once we receive a "critical mass" of responses, we will share the results at this website

START THE SURVEY HERE → Click this link to begin the four question survey

 

 

26 October 2011 - Small Law Firms Playing the Globalisation Game

Consultant Stephen Moss, who was a key figure involved in bringing together Squire Sanders and Minter Ellison (Perth), recently made the point that the arrival of foreign law firms in Australia was part of a global trend in which law firms were internationalising.

Examples of top tier firms playing the "globalisation game" include Deacons which became Norton Rose, DLA Phillips Fox which became DLA Piper and Blake Dawson which will soon become Ashurst.

Allen & Overy Senior Partner, David Morely relates an anecdote where a general counsel of a major investment bank says to him, "every single matter on my desk involves more than one country".

However, it is not only investment banks and large companies that need cross-border legal services. Companies of all sizes are involved in international business and this translates into a demand for the services of all sized law firms.

One strategy that smaller law firms have been taking advantage of for some time is participation in international alliances. There are already many established alliances and no doubt many new ones will be created.

Attracting publicity recently was the connection that Australian law firm, Harmers Workplace Lawyers made with international employment law alliance L&E Global.

International alliances makes it possible for law firms of any size to play on the globalisation playing field.

 

 

20 October 2011 - Four Banks and Four State Governments to Own E-Conveyancing Platform

The Australian Competition and Consumer Commission (ACCC) has completed its informal review on the acquisition of shares in NECDL by CBA, ANZ, NAB and Westpac.

The ACCC informal review found that the Banks' acquisition of a minority shareholding in NECDL is unlikely to substantially lessen competition and the ACCC has advised that it will not oppose the acquisition.

Legal Practice Intelligence has learned that each of the four banks will acquire 3.29% of the equity in NECDL. The state governments of WA, NSW, QLD and VIC will collectively own 86.84%. The banks will own 13.16%. We have further learned that the ownership share of each state government is not equal, one reason being the differing IP contributions made.

NECDL Chairman Alan Cameron indicated that the Banks’ take up of shares will see “a revamp of the NECDL board”.

PEXA is the name of the national e-conveyancing platform being developed by NECDL. Alan Cameron advised that “the PEXA development team is well established and solid progress is being made with the current design phase.

“Initial rounds of consultations with key user groups of PEXA are under way as part of our current engagement around user requirements. Further updates will be provided over the coming months.”

 

www.nationaleconveyancing.com.au

 

 

 

19 October 2011 - Federal Court of Australia Releases Case Management Handbook

A new handbook outlining how to best manage cases in the Federal Court of Australia was released today.

The Case Management Handbook was prepared by members of the Federal Litigation Section of the Law Council of Australia in conjunction with the Federal Court of Australia and contains information, guidance, ideas and suggestions about the tools and techniques available for use in the Court.

The Chief Justice of the Federal Court of Australia, Patrick A Keane, said a key driver of the development of the handbook was the perceived need to address two principal criticisms of the legal system – delay and expense.

”The handbook provides guidance on how delays can be minimised, particularly through the early identification of issues of fact and law, and on the best ways to ensure litigants get value for money"  Keane CJ said.

Chair of the Federal Litigation Section of the Law Council of Australia, Mr Simon Daley, said “The principle aims of the Handbook are to highlight the case management tools and techniques available to the Court and practitioners, which will assist in ensuring the quick, inexpensive and efficient resolution of proceedings before the Court.

“The Handbook will also assist in gathering and distilling the experience of practitioners and judges alike as to the merits and perils of specific techniques in different contexts,” Mr Simon Daley said.

Law Council of Australia President Mr Alexander Ward said the Handbook represented a positive step forward for everyone involved in Federal Court proceedings.

The handbook can be downloaded here

 

 

19 October 2011 - Legal Strengths Join Forces for Human Rights

National plaintiff litigation experts Shine Lawyers and well-known human rights lawyer and advocate George Newhouse have officially joined forces to fight for justice and human rights in Australia. 

Shine has enlisted Newhouse as its ‘Special Counsel’ on human rights matters following the parties’ productive partnership which arose from the fight for the rights of the survivors and relatives of the Christmas Island Boat Tragedy. 

Executive Director Steve Roche said it was a key step forward for Shine in expanding the depth of its experience in litigation and ensuring it had the best team available to defend the rights of vulnerable clients. 

Read more at http://blog.shine.com.au/2011/legal-strengths-join-forces-for-human-rights/

 

 

19 October 2011 - Legal Sector Job Advertisements Outperform General Economy

Statistics of job advertisements derived by Legal Practice Intelligence show that jobs growth in the Australian legal sector has outperformed growth in the general economy.

For the economy as a whole, the ANZ Bank reported recently: “The monthly trend in job advertisements began slowing in January and has been negative since April”.

Even with this negative trend the ANZ Job Advertisement Series showed that internet job advertisements were 4.0% higher than 12 months ago (to September).

SEEK commented that “job indicators for September 2011 reinforce the fact that, while the Australian labour market is easing, this is a very gradual process. Thus the change is much less abrupt than some media commentary would suggest ...”

In relation to all sectors, SEEK states: “New job ads placed with SEEK (seasonally adjusted) fell by 0.2% in September, following a (revised) decline of 1.0% in August. They are now 3.7% lower than their peak in April 2011, but remain 9.5% higher than a year earlier. These data suggest that the demand for labour is slowing gradually, but is still significantly higher than a year earlier.”

Statistics derived by Legal Practice Intelligence show that legal sector job advertisements are approximately 15% higher than twelve months ago. The index includes lawyers and support staff.

The demand for support staff has more closely followed the trend in the general economy over the last six months whereas job advertisements for lawyers showed a clear sign of levelling out only in October 2011. 

 

 

 

16 October 2011 - Chart of the Day: The Only Way is Up (hopefully)
 for Conveyancing



Australia dwelling sales values and volumes

 

 


12 October 2011 - Housing Market Overview

 

 

 

 

11 October 2011 - When is an Alternative Fee Arrangement also Value Billing?



Alternative fee arrangements continue to be promoted in the marketplace for legal services, giving the firms who offer them a marketing edge over their competition. A fixed fee is an example of an alternative fee arrangement. Should clients be more or less appreciative if you offered them value billing with their alternative fee arrangement? How do these two concepts interrelate? Read more



4 October 2011 - The Law Management Group Formed

A group of independent management consultants has formed the Law Management Group (LMG), a New Zealand-based group offering lawyers, law firms and legal departments throughout Australasia a comprehensive range of services to help them adjust to and grow in an increasingly competitive environment.

Building on years of expertise in the legal services market, Ashley Balls, Richard Burcher, Ron Pol, Paul Steele and Simon Tupman have united to form the LMG.

Each consultant remains independent of each other but, by pooling their expertise and resources, they can now effectively offer clients throughout Australasia a one-stop-shop on all issues related to law firm management, from growth and succession planning to website design and marketing.

The group also has close ties with its UK counterpart the Law Consultancy Network, and law management expertise and resources globally.

www.lawmanagementgroup.com

 

 

30 September 2011 - How Big Can Slater & Gordon Become in Family Law?

Three weeks ago Slater & Gordon (S&G) made headlines by announcing a cornerstone of its strategy to build its family law practice - namely fixed fees. The question then follows: how big can S&G become in family law?

The firm estimates that it currently has a 20-25% market share in the personal injuries market and is aiming to grow this to 30-40% by 2015. Is a 40% market share possible in family law?

S&G has estimated that the size of the family law market in Australia is $400-$500m. Its current market share is around 1%. According to the company's published ASX announcements, it is planning to increase its market share in family law to 5% by 2015, creating a $25 million revenue practice.

S&G has indicated that it is open to acquiring family law practices. However, much of the success of the firm's push into family law will depend on the success of its marketing efforts and the response from competitor firms. 

S&G has proved to be a skilful marketer. Although not specifically targeting family law, in financial year 2011, an 'aggressive' advertising program in Western Sydney increased enquiries by 45%.

Below is a new family law advertisement recently made public
 

 

 

 

26 September 2011 - Blake Dawson and Ashurst Announce Merger Plans

       

Ashurst and Blake Dawson have announced plans to combine their businesses in Asia and merge their operations globally, creating a new and powerful legal presence in the international market under the Ashurst name.
 
Under the arrangements, Ashurst and Blake Dawson have agreed:
 •To combine their businesses in Asia under the Ashurst brand;
 •That Blake Dawson will rebrand as Ashurst in Australia; and
 •To merge by 2014.
 
This follows a positive vote of both partnerships, which took place on 23 September 2011.
 
Ashurst and Blake Dawson have a shared vision to build a premier global law firm. At the outset, the firms will combine their practices in Asia to offer scale, depth and reach in the fastest growing region of the world. The combination will provide significant opportunities and competitive advantages, building on the firms' established stronghold in the energy & resources, infrastructure and financial services sectors.
 
The Asia combination and rebranding of Blake Dawson is planned to take effect by March 2012. The full merger is conditional on a further vote of the partnerships. It is expected that the merger will be considered in early 2014.
 
Charlie Geffen, senior partner of Ashurst, commented:
 
"There is a great deal of synergy between Ashurst and Blake Dawson in terms of practice area expertise and growth strategy. This is an exciting opportunity for two firms who share an ambition to develop their business both in Asia and internationally. We are confident that the initial combination will materially strengthen our businesses in the Asia Pacific region and also allow us to create significant momentum in achieving our goal of being among a small group of premier global firms."
 
Blake Dawson's chairman Mary Padbury said:
 
"Ashurst and Blake Dawson see this as a significant opportunity to take a bold step towards becoming one of the premier global law firms which will lead the legal market in coming years. This is also a first for an Australian top tier firm. Combining our operations with a leading international firm will deliver significant competitive opportunities for both businesses, a greatly expanded international capability for our clients and exciting career prospects for our people."
 
Geoffrey Green, whom the firms have appointed to chair the combined Asian business, said:
 
"Our firms have worked together successfully in Asia for nearly 10 years. This combination is a natural development of our relationship, giving Ashurst scale and depth of resource in Asia and providing our Blake Dawson colleagues with greater international reach for their important client base. We both look forward to full integration."
 
Ashurst – key facts
 •Number of partners: 230
 •Total number of lawyers: 900
 •Office locations: Abu Dhabi, Brussels, Dubai, Frankfurt, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome, Singapore, Stockholm, Tokyo, Washington DC.
 •Revenue 2011: £303 million / A$462 million.
 
Blake Dawson – key facts
 •Number of partners: 192
 •Total number of lawyers: 828
 •Office locations: Adelaide, Brisbane, Canberra, Melbourne, Perth, Sydney, Shanghai, Singapore, Port Moresby, Tokyo and an associated office in Jakarta
 •Revenue 2011: A$380 million / £250 million.

 

 

 

26 September 2011 Financial Markets Adjust to Changing Sentiment
 

 

 

 

23 September 2011 - Shrinking Western Australia Conveyancing Volumes

Source: Landgate WA

Home prices in WA have been in decline every month during calendar 2011 to July 2011 (being latest statistics examined by Legal Practice Intelligence). WA property sales volumes and price trends have now more closely synced (and sunk) with the rest of the country after leading the country in big price increases during 2006. 

 

 

21 September 2011 - CRASH! - Queensland Property Sales Volumes

Queensland property sales volumes for the three months June to August 2011 are at their lowest level for at least 10 years. This is the data range analysed by Legal Practice Intelligence. It is likely that older data will show that current conveyancing activity has not been this low for even longer than 10 years.

Property transfers for the three months June to August 2011 were 15% lower than the equivalent three months of 2010. The above table shows the dramatic decline in sales volumes compared to earlier years. June to August property transfers were 51% lower in 2011 compared to 2007.

For the January to August period, property transfers in 2011 were 23% lower than in 2010.

The more recent three month period was analysed in an attempt to remove distortions caused by the floods and cyclone that would have affected activity in the earlier part of the year.

Legal Practice Intelligence believes that the the downturn is connected to an unusually long period of declining property prices. People do not like selling their property in a declining market and buyers hold back expecting prices to keep falling.

Statistics source: The State of Queensland (Department of Environment and Resource Management)

 

 


20 September 2011 - Internet Listing Wars and Opportunities for Law Firms

The Australian Institute of Business Brokers (AIBB) has launched its own businesses for sale listings website www.aibbsales.com.au. AIBB is the industry association for professional business brokers.

This development mirrors efforts by real estate agents whose listings website www.realestateview.com.au now claims to be Australia's third largest property portal.

The market leader is www.realestate.com.au followed by www.domain.com.au. Both of these websites also have businesses for sale listings.
 
There have been many new entrants into business sales internet listings. Of these www.seekcommercial.com.au appears to have made the greatest impact.

Outside of the current top three real estate websites, two sites worth keeping an eye on are www.propertynow.com.au and  www.onthehouse.com.au.

A new entrant is www.viewproperty.com.au which positions itself as "a truly national website that will be entirely owned by Australian Real Estate Industry members."

The 'listing wars' in both property and business sales will involve maximising site visit numbers so as to prove their value. However the agent-owned sites should be able to put up a good fight because of agents' role in the market.

What opportunities do the 'listing wars' have for legal practices offering conveyancing? At the very least there are new places to advertise, offer articles and make industry connections.

 

 

18 September 2011 - Victoria Conveyancing Volumes on the Downside of a Rollercoaster


If you are providing conveyancing services in Victoria, the last couple of months should have felt similar to the low point of the GFC in terms of the volume of conveyances - similar to levels achieved as long ago as 2006.

For the first eight months of calendar 2011, conveyancing volumes in Victoria were down 16% compared to the equivalent period in 2010.

The down-trend of the current calendar year to August makes for a difficult business environment for conveyancers but was not surprising following the steep increase in property prices and sales volumes during 2010. The 16% decline follows an 18% increase in 2010 compared to 2009 (eight months to August).

In early 2011 it looked as though the decline in volumes was going to be even worse than what eventuated. April 2011 was 21% down compared to April 2010.

For the six months to July 2011, house prices in Melbourne fell 6.2% which was the worst result for any capital city.

With sentiment on interest rates changing course over the past few months from a likely increase to a likely decrease, Victoria conveyancing volumes might now be close to a low point.


 

8 September 2011 - Slater & Gordon Launches Fixed Fee Service for Family Law

"Australians going through divorce or separation will be able to access a fixed-fee service in the future, through an innovation being launched by leading law firm Slater & Gordon." from a S&G statement - Read More

 

8 September 2011 - Launch of Legal Sector Job Advertisements Index

Sydney, 8 September 2011 – Legal Practice Intelligence has today launched the Australian Legal Sector Job Advertisements Index. The Index is a statistical analysis of online job advertisements in the legal sector.

Legal Practice Intelligence has been tracking online job advertisements Australia-wide for the past three years. Up until now, the statistics have been used as an adjunct to the excellent series published by Bob Olivier. The Olivier Job Index, later known as the Advantage Job Index, ceased being published from March 2011.

The Legal Practice Intelligence Index will fill the gap left by the cessation of the Olivier series.

Interest in the legal sector job index arose in 2008 when there occurred a dramatic downturn in the number of job advertisements – as depicted in the graph below.

 

During 2009, legal sector job Advertisements “flat-lined”. By October 2009, legal sector job advertisements were still 50% below the level of October 2008.

By May 2010, for the first time since the start of 2009, the year on year change in the number of job advertisements was a positive number. In May 2010 the number of job advertisements in the Australian legal sector was 3.2% higher than in May 2009.

By December 2010 legal sector job advertisements were 34% higher than December 2009 but still well below the peaks of late 2007 / early 2008.

What is the situation today? More detail will be provided in future releases however the picture that is emerging for the last 6 months is that the number of legal sector job advertisements has been moving sideways. The rate of year-on-year improvement seen in 2010 has not continued during 2011.

Job advertisements for the economy as a whole, as reported in the ANZ job Index for August 2011, were 6.1% above their level a year earlier.

 

 

31 August 2011 - Record Year for Trade Marks

IP Australia says "With all the international doom and gloom lately, it’s nice to hear some promising local news. Trade mark applications are up-to pre GFC levels in fact. Last financial year saw trade mark applications from Australian businesses in a record 69,003 classes.

"This means new Australian brands are expanding into more categories of goods and services than in previous years. Instead of just using a brand for clothing, business owners might also see opportunities in surfboards and sports drinks.

"But that's just scratching the surface. Anecdotal evidence suggests trade mark applications are leading indicators of economic activity. Companies apply for trade marks when they are about to launch a product or a new venture. The common sense approach is to protect your brand before investing in advertising and marketing.

"The increase in trade mark applications may also reflect improved understanding of intellectual property (IP). Businesses realise the importance of differentiating from competitors and are taking their IP seriously. A recent small business survey supports this claim. While the majority of SMEs (54%) rated themselves “somewhat aware” of IP (consistent with last year’s figures) the proportion of those “very aware” doubled from 15% to 32%."

Trade Marks Statistics - AU non-Madrid Filings - All Classes
FY 2008-09  60,556
FY 2009-10  67,415
FY 2010-11  68,926

 

 

31 August 2011 - A New Community Helps Small Law Firms Access Quality Work

The largest law firms have offices across the nation. Medium size law firms belong to national associations. Lawyers in both environments benefit from cross-referrals, combined marketing efforts and knowledge-sharing. 

A new community called GoodLawyers has been created to provide lawyers working in small firms the same types of benefits enjoyed by lawyers in larger firms.

GoodLawyers is neither directory nor law firm, but represents a completely new concept in the Australian legal market; an invitation-only community for lawyers who are widely respected in their field for their legal experience and client care.

As members are handpicked by industry insiders, clients can feel confident that a GoodLawyers legal practitioner has both the expertise and professionalism required to represent them and their interests.

“When lawyers can allocate case work between each other, based on interest and expertise, it delivers better value to clients and a more enjoyable working life for lawyers” GoodLawyers Director Christopher Eddison-Cogan said.

“Quality-controlled, reciprocal referral would also enable smaller firms and sole practitioners to take on matters they would normally not have the resources to handle.

“Every lawyer sometimes receives matters outside their field of interest or expertise. Our model allows them to safely refer such matters to someone with the requisite expertise, and in return receive matters they are expert in” he said.

For further details, please contact Christopher Eddison-Cogan, Director. Ph: 0413 700 200  E: cmec@goodlawyers.com.au www.goodlawyers.com.au

 

 

30 August 2011 - Large Law Firm Revenue up 4.1%,  Employment up 2% for Financial Year 2011

BRW magazine has published its annual list of Australia's top 500 private companies by revenue. Sixteen law firms made the list.

For financial year 2011, revenue of the entire group of 500 private companies was up 11.5% on the previous year and employee numbers were up 3.2%.

By comparison, the sixteen law firms' revenue was up 4.1% and employee numbers were up close to 2%. Employee numbers include lawyers and all other staff.

Although a more subdued result than the 11.5% growth rate of the whole group of 500 companies, it was a 'turnaround' result compared to financial year 2010.

Other BRW tables show that for financial year 2010 the largest six law firms had a decline in revenue of approximately 7% compared to FY 2009. The largest six firms achieved a total revenue growth of 3.27% in 2011, though still less than the increase in the Consumer Price Index at 3.6%.

Of the sixteen law firms, revenue growth for FY 2011 of the ten smallest firms was 5.58%.

There was a notable divergence between the largest six firms and the group of ten smaller firms in employment growth. Including lawyers and all other staff, employment growth was close to static in the largest six firms as a whole while it was up 4.5% to 5% for the next ten firms as a group.

Source: Legal Practice Intelligence has analysed the BRW tables. Where some figures were not provided in the BRW tables, estimates have been made.



 

26 August 2011 - Just Three States and a Territory Remain at Starting Line of National Legal Profession Reform

As reported in The Australian:

"Canberra presses for national regulation of lawyers

"THE federal government is working to establish a new regulatory system for lawyers that will initially cover just three states and the Northern Territory.

"The move comes after all other states and territories withdrew from a planned national scheme at last week's meeting of the Council of Australian Governments.

"The new system would bring lawyers from NSW, Victoria, Queensland and the Northern Territory into a single regulatory system that would initially cover about 84 per cent of lawyers." Link to full article

 

 

23 August 2011 - Clayton Utz Publishes Inaugural Annual Review – FY 2011

"The key strength of Clayton Utz is our people"

Some interesting statistics along with Legal Practice Intelligence's analysis:

203 partners, approximately 1700 staff

Legal Practice Intelligence estimates approximately 862 lawyers

Of the 203 partners, 170 were equity partners

Revenue $445 million

33,000 hours of pro bono work - Legal Practice Intelligence estimates that this represents approximately 38 hours per lawyer in FY 2011

Annual staff turnover FY 2010 23.8%,  FY 2011 18.9%

Link to annual report

 

 

20 August 2011 - Integrated Legal Holdings Aims to Acquire 15-20 Medium Sized Law Firms

As part of its 2011 financial year results announcement, ASX listed Integrated Legal Holdings also revealed:

"Over the next 5 to 10 years, we intend to develop a national network of legal services businesses (member firms) by acquiring 15 to 20 high quality medium sized law firms in the Australian capital cities and key regional centres.

"The businesses we target are both medium sized commercial law firms and specialist law firms in key growth segments.

"The Company is aiming to acquire one new member firm and a number of smaller tuck-in acquisitions in each 12 month period, which would contribute approximately $10m in annualised revenue".

Recent acquisition activity has been:
- Wojtowicz Kelly Legal effective 1 February 2011 - $5.3m annual revenue
- PLN Lawyers effective 1 August 2011 - $2m annual revenue

"The full revenue and profit impact of the WK and PLN acquisitions will be achieved from the 2011/12 financial year.  The Directors believe that the effect of both acquisition transactions will be materially positive in terms of earnings  per share in the 2011/12 financial year and will enhance the Company’s growth prospects" the company stated in its stock exchange announcement.

Integrated is a top 40 Australian law firm by fee income and has over 175 employees including 22 Principals and more  than 70 lawyers. Operating revenue for FY11 was $28.5m, an increase of 19% compared to FY10.  www.ilh.com.au

  

 

19 August 2011 - 24 Person Firm Proves Timesheets Are Not Necessary

Perth firm Bowen Buchbinder Vilensky claims to be the first significant law firm in Perth to have adopted fixed fee pricing.

After more than 12 months of experience with fixed fees, the firm has become more profitable compared to when it billed by the minute, its managing partner David Vilensky was quoted as saying in a recent article in the Australian Financial Review (AFR).

The firm explains its pricing principles on its website:

"The fixed fee is not an estimate, and there are no hidden charges. The fixed fee also includes all incidental expenses such as telephone calls, postage charges, printing and copying. With fixed fee pricing our clients are not inhibited from seeking timely legal advice by the fear of a meter running endlessly. Fixed fee pricing, as opposed to hourly rates, offers our clients the accumulated wisdom of the firm through lawyers with substantial experience across a range of practice areas."

Fixed fee pricing has enabled the firm to differentiate itself from its competition. Mr Vilensky told the AFR that the firm is attracting clients because of its service and pricing. 

He was also quoted in the AFR as saying "we are not selling our time, we are selling our intellectual property" and "t
he lawyers are saying it is fantastic and the place feels a hell of a lot more relaxed".

The firm has published its pricing manifesto at:
http://www.bbvperthlawyers.com.au/fixedFeePrice.html

Australian firms can access expertise in implementing value pricing from consultant John Chisholm who is a Fellow of the Verasage Institute - a leading training institute in the field of value pricing. 

 

 

16 August 2011 - Slater & Gordon FY 11 Financial Results and Future Plans

 


The board of Slater & Gordon Limited (ASX: SGH) today announced a net profit after tax (NPAT) of $27.9 million for the year ending 30 June 2011, up 40.9% on the previous corresponding period.

Revenue was up 46.2% to $182.3 million, largely due to acquiring the practices of Trilby Misso and Keddies. Revenue growth for 2011/12 is expected to be around 10%.

EBIT margin is trending at between 25% and 26%.

“We now have a very strong position in the personal injuries markets in all the largest states, with scope for further growth,” Mr Grech said.

Mr Grech also said that Slater & Gordon was continuing to investigate opportunities in overseas consumer legal services markets. The United Kingdom is of particular interest because of its jurisdictional similarities to Australia and the imminent introduction of legislation allowing for listed firms to operate there.

Business priorities for the company include:

• Aggressively developing the Family Law and Private Client Services practices by the introduction of innovative service offerings and potentially by acquisition

• Realising more value from the 80,000+ new client enquiries received in a year by increasing enquiry to client conversion rates and by increasing the take-up of other Slater & Gordon services

The number of employees at June 2011 was 1,125.

 

 

 

 

15 August 2011 - The Birth of Property Exchange Australia (PEXA) - E-Conveyancing Platform

E-Conveyancing reaches a major milestone – build of a national property exchange platform begins

NECDL signs Master Agreement with Accenture to design and build e-conveyance platform

Banks to have minority shareholding

The Law Council's reaction  .... Read more

 

 

13 August 2011 - Gilchrist Connell Opens Perth Office

Specialist insurance law firm Gilchrist Connell, working off strong growth in its SA and NSW practices, is opening a Perth office – its third in only three years of operation. Gilchrist Connell’s core business is claims handling for insurers, self-insurers and corporates. Since its departure from a mid-tier commercial firm in 2008, it has established itself as a standout, growing by 50% and adding major insurers to its client list.

Headed by Deborah Templeman and a team of insurance law specialists formerly comprising the Minter Ellison Perth insurance division, the office will enable Gilchrist Connell to offer its tailored insurance and advisory legal service to the WA market.

Deborah Templeman praised the approach of Gilchrist Connell.  “I have been impressed by the fresh, ‘can do’ attitude of Richard and his team and the firm’s successes to date.  The Gilchrist Connell business model offers exciting opportunities for my team and our clients, and we are pleased that the move can happen with goodwill and cooperation.  We are looking forward to developing the practice here in the west and being able to serve current and new clients from a new home.” 

A partner of Minter Ellison for more than ten years, and a twenty-year veteran of the firm, Deborah practises with a focus on professional indemnity, public liability, policy interpretation issues and alternative dispute resolution. The foundation team for the Perth office will include senior associate Justine Siavelis and associate Bradley Baker as well as a supporting complement of lawyers and administration staff.

 

 

12 August 2011 - "A Broken Relationship Shouldn't Mean a Broken Bank"

Phil Enright, non-lawyer, key investor and founder of the family law practice, Just Family Matters has proved many things with his family law venture. He has proved that his marketing ideas have traction, that his firm can attract clients and that the internet is where people are searching for family lawyers.   

The one thing that Mr Enright has not yet proved is that a small law firm can be effectively managed over the long term without significant, perhaps majority ownership of a lawyer. The firm, Just Family Matters was established in 2010. It did not take long for Mr Enright to form the view that the practice needed either full ownership by a lawyer or a significant equity involvement, in association with him. As a result of this view, Mr Enright is now seeking a 'joint venture' partner or a full sale of Just Family Matters.

Phil Enright is a Brisbane based management and marketing consultant. His career highlights have included being a Director of Clemenger BBDO and Director of Marketing Services and General Manager, Garnsey Clemenger (Brisbane).

Just Family Matters' advertising message is "A Broken Relationship Shouldn't Mean a Broken Bank".  If you are a family lawyer who feels an affinity with the website www.justfamilymatters.com.au and its marketing messages then you can express an interest to become involved in Just Family Matters. Contact agent Peter Frankl (02) 9328 7676 or click email link.

 

 

6 August 2011 - Squire Sanders & Dempsey to Open in Perth with Minter Ellison Partners

UK’s The Lawyer publication reports that “Squire Sanders & Dempsey is on the verge of opening in Australia, after revealing it is in the final stages of merger talks with the Perth office of Australia’s Minter Ellison”.

The Minter Ellison Perth office was not financially integrated with the national Minter Ellison practice. The Lawyer reports that 14 out of 18 of the Perth partners are likely to join the global firm.

Minter Ellison will now be establishing its own fully integrated office in Perth.

"We have no doubt the decision to go our separate ways is the right outcome," Chief Executive Partner [Minter Ellison] John Weber said. "Having a wholly integrated office has been our long held strategy. Through discussions over the past 12 months it has become clear that our two firms have differing commercial objectives in the Western Australian market.

The new Minter Ellison Perth office will open in October and will include a number of partners from the current Minter Ellison Perth office.  The other partners of the current Minter Ellison Perth office will be establishing the Perth office of the global firm Squire Sanders.

"We believe Perth will be an increasingly important market in the region and accordingly by October we will have a sizable presence with around 10 partners.  Minter Ellison expects to work collaboratively with the new Perth Squire Sanders office whenever possible.

"We wish the new office of Squire Sanders well in its endeavours," Mr Weber said. 

Link to The Lawyer article   Link to Minter Ellison's statement  

 

 

1 August 2011 - Integrated Legal Holdings Acquires PLN Lawyers

 

 

PLN Lawyers will merge with Sydney firm Argyle Lawyers which is part of Integrated Legal Holdings - listed on the Australian Stock Exchange.

PLN consists of founder and Principal John Ridgway, Senior Associate Nitij Pal, and 4 lawyers, with a total of 8 staff, and annual fee income of approximately $2m.

PLN is an award winning law firm having won the 2009 New South Wales Exporter of the Year Award in a recognised services industry, and in August 2010 was named joint winner of the e.law Asia-Pacific Box Breaker of the Year Award, which recognises those thinking outside the square to meet legal business challenges.

PLN will tuck-in with existing member firm Argyle, with the combined firm having 6 Principals, approximately 40 staff and annual fee income of more than $10m.      Read More

 

   
Practice Intelligence Australia - July to December 2011 Archive (member access) 
 
Practice Intelligence Australia - January to June 2011 Archive (member access) 

Practice Intelligence Australia - July to December 2010 Archive (member access) 

Practice Intelligence Australia - January to June 2010 Archive
 
(member access) 

Practice Intelligence Australia - 2009 Archive (member access)

 

   



Business Continuity Planning and Disaster Recovery

 

Share Trading Tip from
Michael Gable of Novus Capital



CLICK FOR THIS WEEK'S TIP


 







© 2009-2010 Legal Practice Intelligence